Crude oil price: MCX futures fall on weak global cues, Brent crude at $102
Analysts say prices fell after participants offloaded their holdings amid weak demand in the spot market
Crude oil prices experienced a decline of ₹138, reaching ₹9,085 per barrel on Monday due to subdued global trends. On the Multi Commodity Exchange, the October delivery of crude oil futures dropped by 1.5 percent, settling at ₹9,085 per barrel with a trading turnover of 7,063 lots. Analysts attributed the price decline to participants offloading their holdings as a result of weak demand in the spot market.
In the global market, West Texas Intermediate crude oil was trading 1.69 percent lower at $98.60 per barrel, while Brent crude oil fell 1.59 percent to $102.22 per barrel in New York.
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